EPR Properties: 2Q Earnings Snapshot
KANSAS CITY, Mo. (AP) _ EPR Properties (EPR) on Monday reported a key measure of profitability in its second quarter. The results topped Wall Street expectations.
The Kansas City, Missouri-based real estate investment trust said it had funds from operations of $141.8 million, or $1.87 per share, in the period.
The average estimate of four analysts surveyed by Zacks Investment Research was for funds from operations of $1.86 per share.
Funds from operations is a closely watched measure in the REIT industry. It takes net income and adds back items such as depreciation and amortization.
The company said it had net income of $85.5 million, or $1.15 per share.
The real estate investment trust posted revenue of $202.9 million in the period. Its adjusted revenue was $137 million, also beating Street forecasts. Four analysts surveyed by Zacks expected $133.5 million.
EPR Properties expects full-year funds from operations in the range of $5.97 to $6.07 per share.
The company’s shares have increased slightly since the beginning of the year. In the final minutes of trading on Monday, shares hit $65.78, a decline of slightly more than 8 percent in the last 12 months.